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- EUR/KRW is currently trading around 1,205 mark.
- Pair made intraday high at 1,206 and low at 1,200 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,203 mark.
- A daily close below 1,203 will drag the parity down towards key supports around 1.198, 1,189, 1,178, 1,163 and 1,154 marks respectively.
- Alternatively, a sustained close above 1,203 will take the parity higher towards key resistances around 1,212, 1,228, 1,233, 1,242 and 1,252marks respectively.
- Seoul shares open down 0.13 pct at 2148.83.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take long position in EUR/KRW around 1,204, stop loss at 1,199 and target of 1,212/1,218/1,228.
